Given my background and because a number of our members are investment professionals (including Chartered Financial Analysts), I tend to write about investment-related topics fairly often. My perspective on the world is to some extent coloured by my investment training, and I think a number of investment topics have applicability more broadly too – including the focus of this post: our own growth rates.
I also wrote about models (such as financial models) being representations of reality in our post on Professional & Personal Development Cycles. One of the central models in investments is the Dividend Discount Model. It is used, along with other more complex techniques, to value the shares of a company. It is based on the theory that a share is worth the sum of all the company’s future dividend payments, discounted back to today i.e. the net present value of the future earnings that holders of the shares actually receive as dividend payouts.
Read more to explore this valuation model, think about intercepts, slopes and reinvestment, and consider with us a thought experiment on our own professional growth rates and future earnings. Please do build on the ideas mooted in the comments.
Our recent article on reflective practice, "Professional Reflection: Learning through Experience", discussed the value of reflection in our Continuing Professional Development (CPD). It considered a number of professions encouraging reflective practice such as the healthcare/medical, teaching/education, and actuarial and accounting professions, and described some practical frameworks for reflection.
While collaboration and feedback are inherent in some professions, others may view reflective practice as a solitary activity. There can be value in forming your own opinions first, but at Protagion we believe strongly that working with others is fundamental to our professional development, including reflecting and discussing together.
Christopher Johns, a professor of nursing, in “Guided reflection: a narrative approach to advancing professional practice”* argued that the act of sharing reflection with a guide, colleague or mentor enables the experience to become learned knowledge at a faster rate than reflecting alone.
Read more for our brief thoughts on feedback, followed by more detailed exploration of “reflective practice discussions”, part of some professions’ CPD requirements i.e. their members are required to discuss their professional development with others. We look into who the reflective practice / diffraction discussion could be held with, the general elements of the discussion, and end with specific examples of possible questions to explore between the professional and the discussion partner.
As professionals, it’s important that we don’t see obtaining our professional qualifications as the end of our development journey, especially as we are still likely to have many decades of work ahead of us after obtaining the letters after our names. Because of this, our professions strongly emphasise that we continue developing beyond qualification, with increasing encouragement for learning over our lifetimes (‘lifelong learning’). A critical component of effective learning is identifying the goals of your desired development, which offer a reference point to compare your introspection, action and progress against.
As we race towards the end of the year, the time for performance appraisals is rapidly approaching again. They offer us the opportunity to reflect on our performance and development, as well as consider what we’d like to do differently in future. In this vein, this article explores the value of professional reflection, drawing from approaches followed across a number of professions. It considers Continuing Professional Development (CPD) and possible activities, and the shift from rules to principles and the increased flexibility for and responsibility on professionals to manage their professional development. Read more to explore different models of ‘reflective practice’, possible drawbacks, and practical frameworks to use for reflecting in a CPD context.
Our follow-on article on the topic of professional reflection ("Getting Value from Reflective Practice Discussions") then delves into feedback and discussion with others about our development, including examples of possible questions in a reflective practice discussion (or diffraction discussion, as at least one professional body calls it).